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California-based Mullen Technologies has renewed its letter of intent with S3R3 Solutions following a new round of funding that will go toward building an electric car manufacturing facility on the West Plains.
California-based pwsMullen Technologies could be one step closer to manufacturing its electric sports car on the West Plains with a recently announced merger that, if approved, will allow the company to become a publicly traded company.
Although a letter of intent signed by California-based Mullen Technologies to build a manufacturing facility on the West Plains expired last month, public development authority officials remain confident the project will happen.
Local public development authority officials have extended the timeline for an agreement with California-based Mullen Technologies to build a manufacturing facility for high-end electric sports cars on the West Plains.
A proposed agreement offers protections for local taxpayers, and the West Plains Airport Area Public Development Authority, including financial benchmarks, warranties and a nonrefundable deposit from the electric car and high-tech battery manufacturer.
When Mullen Technologies announced plans to assemble the Qiantu K50 electric sports car on the West Plains, it brought promise of more than 860 jobs within seven years.
California-based Mullen Technologies announced plans Wednesday to lease a large assembly and manufacturing plant on the West Plains for development of its electric sports car, ultimately bringing more than 850 jobs to the area.